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24 February 2022

Top Three Ways Advisors Are Using Insurance to Elevate the Client Experience

One of the best parts about my job at SS&C is the opportunity to speak to financial advisors and hear how they serve their clients. In those conversations, I hear how financial advisors often have to help their clients navigate the complexities of their financial lives across many different topics and sometimes through strong emotions. In addition, because of the broad spectrum of challenges clients face, advisors often look to technology solutions to help them be more efficient and provide the tools they need to help with all aspects of the client experience.

At SS&C, we empower advisors to deliver a better client experience and help their clients succeed. One of the exciting new ways we are doing this is through the award-winning Advent Insurance Marketplace Powered By DPL. Over the past year, we've talked to many of our advisors about how they leverage this new offering to help their clients, and we are excited to compile a few of the takeaways. Specifically, the top three ways advisors use the Marketplace to elevate their clients' experience include:

  • Lower Investment Costs - One of the most common ways advisors use the Marketplace is to help prospects and clients who previously purchased traditional commission-based annuities. The Marketplace makes it easy to show clients the benefits of a 1035 exchange to a commission-free annuity. Usually, the result of that comparison is that the advisor can offer their client a lower cost for a similar commission-free product or better outcomes for the exact cost.
  • New Income Generation Tools - In the recent market, advisors say it has been hard to find investments that generate the needed income for clients during retirement. However, advisors have discovered that the Marketplace makes it simple to find annuities that can serve the role of a client’s fixed income allocation. With the current low returns on traditional fixed-income investments, annuities can often generate needed retirement income more efficiently than other options by requiring less investment to generate the same income. This structure then frees up more of a client's portfolio to be invested in other asset classes.
  • Mitigate Risk - For many investors, risk is a significant factor in their conversations around their financial life. In fact, mitigating risk is often one of the big reasons a client works with a financial advisor. When advisors discuss the level of risk a client is willing to take, they use the Marketplace to mitigate aspects like longevity and sequence of return risks in the financial plan through commission-free insurance solutions.

We love to hear these examples of how advisors use the tools and capabilities available from the Advent Insurance Marketplace Powered By DPL. The experience the Marketplace provides means advisors can elevate their offering and ensure clients receive the benefits of lower costs, guaranteed income, and minimized risk – all under the trusted fiduciary umbrella.

Request your personalized demo today to learn more about the Advent Insurance Marketplace Powered by DPL.